Tuesday, August 7, 2012

Clear Capital: DC Metro Area Home Prices Up 12.8% Over July 2011

The latest Clear Capital Home Data Index Market Report -- with data through July 2012 -- was released August 7.

In July the Washington Area was ranked 8th out of 15 top performing housing markets nationwide.   The marks the 11th consecutive month the Metro Area has ranked among the top 15 housing markets in the country.

For a more detailed discussion of differences in research methodologies and statistics take a look at my recent blog post How to Evaluate Housing Reports.

Washington Area

Washington Core Based Statistical Area (CBSA) is defined as the District, Arlington, Alexandria -- reports the following market changes:

  • Annually, Washington metro home prices rose 12.8% over July 2011.
  • Home prices increased 7.3% on a quarterly basis.
  • Of the 15 Highest Performing Metro Markets the DC area has the lowest REO saturation: 9.2%.  To put that in perspective the Detroit area has an REO rate of 49.8%.


June saw further support for a housing price recovery as the nation's home prices rebounded with quarterly and yearly gains.  Regional performance Improved across the board.

  • Yearly growth for the broader national market expanded to 2.2% in July, 0.5 percentage points higher than June.
  • National home prices advanced by 2.0% over the quarter, picking up momentum over last month’s quarterly gains of 1.7%.


  • West - prices advanced 6.2% over July 2011 and rose 4.4% quarterly
  • Northeast - increased 1.6% over last year and 0.4% quarterly
  • South - prices rose 1.8% over July 2011 and 1.5% over the previous quarter
  • Midwest - home prices dropped 0.1% from July 2011 but had a quarterly increase of 2.1%

Clear Capital Home Price Index Methodology

  • Generates indices in patent pending rolling quarter intervals that compare the most recent four month to the previous three months, significantly reducing the multi-month lag time experienced with other indices.
  • Includes both conventional fair market sales and “institutional transactions” – short sales and foreclosures.
  • Uses resales with multiple property types, including single-family homes, multi-family homes, and condominiums.

Clear Capital is a premium provider of data for real estate asset valuation and risk assessment for large financial services companies. The Company's customers include the largest U.S. banks, investment firms and other financial organizations.

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